DR Congo Economic Outlook
November 17, 2020Following a subdued H1 as a result of the Covid-19 hit, although the blow was cushioned somewhat by mines continuing to operate despite the adverse health situation, economic conditions seem to have improved so far in H2. The production of copper, one of the country’s main exports alongside cobalt, remained robust in Q3, which, coupled with rallying prices for the commodity since their pandemic-induced collapse in March, bodes well for the external sector. Moreover, crude oil output picked up in Q3, while zinc production soared in September, likely providing further support. Domestic activity also seems to have benefited from easing price pressures and increased exchange rate stability recently. Lastly, business sentiment regarding the current economic environment turned optimistic in October, hinting at a positive start for the final quarter of the year.
DR Congo Economic GrowthAfter the sharpest contraction in two decades this year due to the pandemic taking its toll, the economy is seen bouncing back to growth next year amid reviving demand. The opening of the Kamoa-Kakula copper mine should also support activity ahead. Key risks remain, however, including the economy’s susceptibility to commodity price swings and a subdued global recovery. FocusEconomics panelists project GDP growth at 2.3% in 2021, which is unchanged from last month’s forecast, and at 3.1% in 2022.
DR Congo Economy Data
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5 years of DR Congo economic forecasts for more than 30 economic indicators.
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DR Congo Facts
|Exchange Rate||1,687||-0.78 %||Jan 01|
|Stock Market||0.6||0.0 %||Jan 07|
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